Economies in Asia have been key drivers of global growth in the recent years. And households in the region have benefitted from this growth.

Within the region, China has been the biggest driver - with private wealth in the country surging more than 49% in 2013.

High saving rates in countries such as China and India has also been a key contributing factor to this surge.

The wealth held in the region is expected to rise further, to nearly $61tn by the end of 2018.

"At this pace, the region is expected to overtake Western Europe as the second-wealthiest region in 2014, and North America as the wealthiest in 2018," BCG said.

The pace of wealth creation in China was also evident in the growth in the number of millionaire households - in US dollar terms - in the country, rising to 2.4 million in 2013, from 1.5 million a year ago.

Overall, the total number of millionaire households in the world rose to 16.3 million in 2013, from 13.7 million in 2012.

According to the report, private wealth in:

North America rose by 15.6% to $50.3tn

Western Europe, which includes UK, Germany and France, rose by 5.2% to $37.9tn

Eastern Europe, which includes Russia, Poland and Czech Republic, jumped by 17.2% to $2.7tn